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Jim Lockyer

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Posted  #1 
Just wondering whether I have to register for VAT if I am planning on selling "stuff"?

At the moment I'm not registered as not generating enough income, but am thinking of importing some kit and then reselling these items, and wondered whether I had to pay VAT on the sales?
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Jason Cartwright

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Posted  #2 
No expert here however I believe you need to turnover in excess of £81,000 during a 12 month period. But you can volunteer if you are below the threshold or if you import (EU/UK) over £81,000.
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Stewart McLean

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Posted  #3 
£81,000 is the amount of sales a company or sole trader can make annually in the UK before they are required to register for VAT and UK VAT is then charged at 20% on taxable goods or supplies.

You can register for VAT if you believe you will reach or surpass the target figure.

Stew.
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